It has become a tradition to review the previous year by summing up varied results and take a look behind the scenes to see what the new one has in store for us.
2022 was perhaps not quite what we expected it to be. Domestic and global markets were clouded by a gloomy mood filled with tension and uncertainty.
PASSER SIDC remained true to its ambition to keep developing. It grew not only by the number of projects but also in the spirit of the team, its greater confidence, and new strategies. The difficult period made everyone stronger and provided new experiences. That was a perfect time to initiate novel processes in project, risk, and financial management as well as introduce new systems in human resource planning (the topic of employees with the right qualifications in the market is currently hot).
As part of the activity in the field of shipbuilding expansion, the company, together with a partner acquired the shipyard in the Netherlands. In addition, it started the construction of the new production workshop in Klaipėda, with estimated completion this April. The other area where PASSER SIDC drives high performance is cable reel production, including manufacturing and renovation.
Last year was not short of great partnerships. One of them is joined forces with PASSER LARS (structure rental solutions) in the production of cable transportation equipment.
A new cement carrier Florvik getting ready for its presentation is another example of one more excellent partnership with one of the leading shipbuilding yards Royal Bodewes in Europe. The past year was also filled with constructive dialogues, some of them were dedicated to floating wind turbines.
Technology is revolutionizing the shipping industry, and as the most significant event for PASSED SIDC last year, I would like to highlight that the company will become a subcontractor of TROSVIK with the responsibility for building hulls, pipe installation and insulation work for two autonomic ships. I am delighted to see the completion of the project in Uruguay where we hydraulic lifting systems were used for reservoir construction.
The company produced around 3000 tons of metal products in Lithuania.
In cooperation with Metsä and TERASTORNI OY, the company successfully completed the erection of pulp storage tanks in Kemi, Finland (we are grateful for the Safety Star award there). Three new projects are in the pipeline.
Last year PASSED SIDC was among the top 20 growing and value-creating companies in Lithuania, based on average salary. The company’s name appeared on the list of Lithuanian TOP-500 business leaders too.
2022 was rich in social projects and other inspiring initiatives. PASSER SIDC team won first place in the rowing competition during the Sea Festival and supported running enthusiasts on March 11th. The company is happy to contribute to initiatives promoting youth’s active lifestyle and desire for excellence, including special children camps.
External circumstances and global events made each one of us stronger individually and the entire PASSER SIDC team. I also grew stronger by participating in the Spartan Trifecta World Championship along management of the unforeseen challenges of 2022. It is a great demonstration of what PASSER SIDC can achieve!
Looking into the future, in addition to ongoing and due projects, there are some plans to invest in solar power plant on the roof and metal processing equipment.
I am happy to lead such a forward-thinking company and a winning team!